Steve Jobs resigned this afternoon as CEO of Apple. In a five-sentence letter to the Apple Board of Directors and “the Apple community,” Jobs indicated he “could no longer meet my duties and expectations as Apple’s CEO.”

Jobs, who has battled pancreatic cancer and received a liver transplant, has been on medical leave since January of this year. Apple Chief Operating Officer Tim Cook has filled in for him and Jobs in his note recommended Cook for the position permanently.

Here’s the full text of Jobs’ letter:

To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

I have great admiration for Steve Jobs for his marketing prowess alone. They practically sold air to consumers for a thousand dollars, well MacBook Air. I don't know how well Tim Cook would be able fit in Steve's shoes but I'd like to see how well Apple would perform and the direction that it will be heading in the future.